Tianjin Jiuri New Materials (SH:688199)2025-04-18 10:50Financial Performance - In 2024, the company achieved a sales revenue of 1.488 billion yuan, a year-on-year increase of 20.52%, setting a historical high[13]. - The company's operating revenue for 2024 reached ¥1,488,443,415.32, representing a 20.52% increase compared to ¥1,234,985,577.50 in 2023[30]. - The net profit attributable to shareholders for 2024 was -¥53,760,758.04, showing an improvement from -¥96,137,693.35 in 2023[30]. - The net cash flow from operating activities for 2024 was ¥74,136,599.14, a 3.84% increase from ¥71,394,379.81 in 2023[30]. - The total assets at the end of 2024 were ¥4,011,278,629.43, a slight increase of 0.63% from ¥3,985,984,702.76 in 2023[30]. - The net profit attributable to shareholders was -53.76 million yuan, a reduction in loss of 44.08% compared to the same period last year[43]. - The basic earnings per share for 2024 is -0.33 CNY, an improvement from -0.60 CNY in 2023[31]. - The gross profit margin for the company was 13.74%, reflecting a year-on-year increase of 4.98 percentage points[189]. Sales and Market Performance - The sales volume of photoinitiators reached 23,067.65 tons, an increase of 20.21% compared to the previous year[4]. - The company's sales volume of photoinitiators increased by 20.21%, although the lower unit price impacted overall profitability[33]. - The revenue after deducting non-core business income for 2024 was ¥1,348,907,444.86, a 15.69% increase from ¥1,166,000,877.96 in 2023[30]. - The revenue from the Eastern China region was CNY 429,782,082.16, reflecting a year-on-year increase of 23.78%[138]. - The revenue from the Southern China region reached CNY 269,534,003.68, with a gross profit margin of 17.32%, up by 4.44 percentage points year-on-year[138]. - The operating revenue from exports was CNY 553,307,004.81, with a gross profit margin of 16.33%, up by 4.65 percentage points year-on-year[138]. Research and Development - The company filed 36 new patents in 2024, including 26 invention patents and 10 utility model patents[5]. - The company achieved a total R&D investment of ¥82,101,301.28, representing a 7.43% increase compared to the previous year[95]. - The company has a total of 213 patent applications, with 199 patents granted, including 150 invention patents and 61 utility model patents[93]. - The company is committed to enhancing its core competitiveness through independent research and development and has established a robust R&D and results transformation system[49]. - The R&D team includes 3 PhD holders and 22 master's degree holders, contributing to a diverse educational background[102]. Production and Operational Efficiency - The company implemented various measures to enhance supply chain management and optimize production processes to reduce costs and increase efficiency[13]. - The company optimized production processes and adjusted production lines to improve efficiency and ensure timely product supply[45]. - The production model is based on "sales-driven production," aligning production plans with customer orders and market trends[57]. - The company has established multiple production bases to optimize capacity and ensure stable supply for key products[56]. - The company has enhanced its production capacity and efficiency by acquiring Hongrun Chemical and Huaihua Taitong, optimizing its core photoinitiator product offerings[109]. Environmental and Regulatory Compliance - The company emphasizes compliance management to ensure stable operations and sustainable development in a challenging regulatory environment[7]. - The company has invested significantly in environmental protection facilities and technology to comply with regulations[124]. - The company is focusing on developing green low-carbon industries, including new generation information technology and high-end equipment[163]. - The company is committed to implementing comprehensive pollution control measures in industrial painting and packaging printing sectors[163]. - The focus is on optimizing the structure of raw materials and products with high VOCs content to enhance the proportion of low (or no) VOCs products[163]. Strategic Initiatives and Future Plans - The company plans not to distribute profits for the fiscal year 2024, including no cash dividends or stock bonuses, to ensure sufficient funding for ongoing operations and future investments[15]. - The company is actively expanding its market presence and enhancing its product offerings in the UV curing materials sector[23]. - The company aims to create an integrated supply chain from raw materials to downstream photoresist products, enhancing its competitive position in the market[74]. - The company is focusing on expanding its product portfolio in the UV curing industry, including UV LED technology, water-based UV curing materials, and low-odor photoinitiators, to meet the growing market demand[78]. - The company is participating in a joint investment fund with a target fundraising scale of CNY 50 million, with the company planning to contribute CNY 19 million[199].